What is a business plan?

‍
A business plan is a written document that outlines a company’s goals and the strategies it will use to reach them. It typically includes an executive summary, company overview, market analysis, target audience, competitive advantages, and detailed financial projections. Whether you’re launching a startup or running an established business, a business plan helps define your direction and focus. It serves as a roadmap for decision-making, operations, marketing, and growth. In ecommerce and print-on-demand, writing a clear business plan can help you structure your brand, define your niche, and align your products with your target audience-check out how to build a print-on-demand business from scratch to see how planning fits into success.

What is the purpose of a business plan?

‍
The main purpose of a business plan is to give your business a clear path toward growth and profitability. It helps you set realistic goals, understand your target market, and map out financial expectations. For new businesses, it’s often a requirement for getting funding from banks or investors. For existing companies, it’s a tool for evaluating new opportunities and improving strategy. A good business plan should include market research, financial forecasts, and a plan for customer acquisition. If you’re in the ecommerce space, it’s also helpful for identifying profitable print-on-demand niches and setting your brand apart in a crowded marketplace.